Earlier this week, Dextera Surgical, Inc. (NASDAQ: DXTR) announced its entry into a joint development program with Intuitive Surgical, Inc. (NASDAQ: ISRG), the global leader in robotic-assisted surgery. The two companies will look to develop an innovative surgical stapler and cartridge for use with Intuitive’s da Vinci® Surgical System, a proven robotic surgical system designed to facilitate complex surgical procedures using a minimally invasive approach. Under the terms of this agreement, ISRG will be responsible for the development and testing of the stapler, while Dextera will take the lead on the stapler cartridge.
Prior to the announcement of this joint program, ISRG successfully completed a six-month feasibility evaluation of Dextera’s proprietary MicroCutter technology as part of an ongoing license agreement between the two companies. Dextera’s MicroCutter technology is currently marketed in its groundbreaking MicroCutter 5/80, the first and only 5mm stapler with 80 degrees of articulation. With the thinnest shaft of any articulating stapler, MicroCutter 5/80 effectively reduces the amount of dissection required during surgery by enabling easier placement in tightly confined spaces. The surgical stapler is currently approved for use in the United States in multiple open or minimally invasive urologic, thoracic and pediatric surgical procedures, among others.
“This partnership with Intuitive Surgical is a significant step in the progress we have achieved in enhancing and expanding the long term opportunity of the MicroCutter technology,” Julian Nikolchev, president and chief executive officer of Dextera, stated in a news release. “Intuitive Surgical is a leader in advancing robotic and minimally invasive surgery, and we believe Dextera and MicroCutter technology will have a strong role to play in these types of procedures in the future.”
In recent months, Dextera’s articulating surgical stapler has continued to enable the advancement of minimally invasive surgeries around the globe. In April, the company announced the successful completion of the first procedures using MicroCutter technology in the U.S. following its newly-expanded FDA indication at the University of Alabama at Birmingham’s Comprehensive Cancer Center. Dextera built on this progress just last week with news of the successful completion of a stapler-enabled laparoscopic duodenal repair in a newborn, a first-of-its-kind use of the company’s MicroCutter technology. These challenging cases demonstrate the utility of Dextera’s stapling technology in enabling minimally invasive procedures for both pediatric and adult patients.
Dextera plans to give prospective shareholders some additional insight into the financial ramifications of the widespread adoption of its MicroCutter technology on Tuesday, August 9, when it will release financial results for its fiscal fourth quarter and full year ended June 30, 2016. Additionally, the company’s management team will host a conference call to include a presentation and a question and answer session on the same day at 4:30 pm Eastern time.
For more information, visit www.dexterasurgical.com
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